1084 Jefferson AveAkron, OH 44313

Property Details for 1084 Jefferson Ave

Year built

1920

Lot size

0.14 AC

Property size (Sq ft)

9,028 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

Exceptional investment opportunity in Akron, Ohio, presents the Jefferson Apartments, an 8-unit apartment building boasting a strong 8% capitalization rate and a Pro-Forma NOI of $50,362. This Class B property, situated on a 0.14-acre lot at 1084 Jefferson Ave, Akron, OH 44313 (APN 6844491), offers significant potential. Built in 1920 and extensively renovated in 2024, the building comprises 9,028 square feet across four stories. Five units have been fully remodeled and are ready for immediate rental income. Each spacious unit, exceeding 1,050 square feet, features an excellent layout. Individual tenant-paid boilers ensure efficient utility management. Rear parking accommodates five vehicles. The property also includes a basement with potential for additional unit development. The roof was replaced in 2022, adding to the building's overall value and reducing future maintenance costs. This turnkey property is a rare find, offering a blend of immediate income and future expansion possibilities. This family-owned and self-managed building has been meticulously maintained, promising a smooth transition for the new owner.

Location Insight

City

Akron

County

Summit

State

Ohio

Latitude

41.0964

Longitude

-81.5528

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